E-Commerce Spending Jumps 15% on Cyber Monday to $846 Million, the 2nd Heaviest Online Spending Day on Record
Eclipsed Only by Green Monday 2007 with $881 Million in Online Spending
RESTON, VA, December 3, 2008 – comScore (NASDAQ : SCOR), a leader in measuring the digital world, today reported its tracking of holiday season retail e-commerce spending for the first 31 days of the November through December 2008 holiday season. For the holiday season-to-date, $12.03 billionhas been spent online, marking a 2 percent decline versus the corresponding days last year. However, Cyber Monday saw $846 million in online spending, up 15 percent. The four-day period from Black Friday through Cyber Monday saw e-commerce spending jump 13 percent as both weekend days and Monday all achieved double-digit gains.
2008 Holiday Season To Date vs. Corresponding Days* in 2007 Non-Travel (Retail) Spending Excludes Auctions and Large Corporate Purchases Total U.S. – Home/Work/University Locations Source: comScore, Inc. | |||
Holiday Season to Date | Millions ($) | ||
2007 | 2008 | Pct Change | |
November 1 – December 1 | $12,217 | $12,025 | -2% |
Pre-Thanksgiving | $10,035 | $9,588 | -4% |
Thanksgiving and Later | $2,182 | $2,437 | 12% |
November 27 (Thanksgiving Day) | $272 | $288 | 6% |
November 28 (“Black Friday”) | $531 | $534 | 1% |
November 29-30 (Weekend) | $645 | $769 | 19% |
December 1 (“Cyber Monday”) | $733 | $846 | 15% |
*Corresponding days based on equivalent shopping days relative to Thanksgiving (October 27-November 26 2007)
“Mark Twain might have said: ‘Rumors of the death of online holiday shopping have been greatly exaggerated’,” said comScore chairman Gian Fulgoni “Consumers are clearly responding positively to retailers’ aggressive online discounts. With Cyber Monday promotions beginning in earnest over the Thanksgiving weekend, consumers have finally begun to open their wallets, setting off a streak of four consecutive days of extremely strong growth, and culminating in a Cyber Monday that racked up an impressive $846 million in online spending, up 15 percent over last year and ranking it as the second heaviest online spending day on record. This is an extremely encouraging development for retailers and we can but hope that their aggressive discounting has still left room for profits.”
Consumers Seeing Less Foot Traffic in Retail Stores
The most recent comScore holiday retail survey, conducted from November 28 - December 1, revealed that some additional insights into consumers view of the 2008 holiday shopping season.
Some of the key survey findings include:
- More than half (51 percent) of consumers indicated that the level of promotions and discounts is higher this year than last year, while only 12 percent said that there appeared to be fewer, suggesting that retailers are having to be more aggressive in discounting to spur consumer spending.
- 39 percent of consumers said that there seemed to be fewer people out shopping in retail stores this year than last year, while only 7 percent thought there were more.
Members of the media interested in receiving the data behind the chart for use in a
graphical epresentation, please contact press@comscore.com
About comScore
comScore,
Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world and
preferred source of digital marketing intelligence. For more information,
please visit www.comscore.com/boilerplate.
comScore,
Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world and
preferred source of digital marketing intelligence. For more information,
please visit www.comscore.com/boilerplate.
Contact:
Senior Analyst
comScore, Inc.
312-775-6510
press@comscore.com
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